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Newspaper Headlines: States debt to FG may hit N1.34trn after subsidy palliative loans

Ayodeji.oluwafemi@thecable.ng'byAyodele Oluwafemi
August 24, 2023 7:00 am

Reports on petrol subsidy palliatives and the refusal of the Lagos state house of assembly to clear 17 commissioner nominees out of 39, dominate the front pages of Nigerian newspapers.

The Punch reports that the recent subsidy palliative loans will increase states’ borrowing from the federal government to N1.34 trillion. The newspaper says the naira depreciated to N900 to a dollar at the parallel market on Wednesday.
The Nation reports that Godwin Emefiele, suspended governor of the Central Bank of Nigeria (CBN), has opted for a plea bargain in the alleged N6.69 billion fraud case. The newspaper says the Lagos house of assembly has refused to clear 17 commissioner nominees of Babajide Sanwo-Olu, governor of the state.
Vanguard reports that Algeria and Egypt have opposed the deployment of military personnel to Niger Republic to restore constitutional order. The newspaper says Nyesom Wike, minister of the federal capital territory (FCT), has denied purchasing an armoured Lexus LX600 worth N300 million
The Guardian reports that Nigeria’s space programme has failed to send an unmanned mission to space despite gulping N101.744 billion in three years. The newspaper says the United Kingdom has backed calls for the immediate release of Mohamed Bazoum, the president of Niger Republic.
THISDAY reports that Godwin Obaseki, governor of Edo, said he was shocked by the inability of the federal government to respond effectively to the issues that trailed the removal of petrol subsidy. The newspaper says Yevgeny Prigozhin, leader of the Wagner Group, a private army in Russia, has died in a plane crash in the country.

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